Guyana’s fight against climate change receives EU commitment to funding

European Union (EU) Ambassador to Guyana, Fernando Ponz Cantó, declared that the EU is
committed to assisting Guyana in the fight against climate change. Ambassador Cantó noted that
the EU recognises that Guyana is threatened by the rising sea levels, and has over the years,
invested to enhance the country’s sea and river defence capacity.
This commitment, he said was boldly stated as he made remarks on day two of the International
Energy Conference and Expo at the Marriott hotel, Georgetown. Cantó said that corporate
responsibility is key, pointing out Vice President Dr. Bharrat Jagdeo’s call on oil companies to
protect the environment. The EU Ambassador stressed that in December 2021, the EU invested
$1.78B in Guyana through its budgetary support programme that will see majority of the sum
going towards sea defence.
“The forest are not only wonderful and beautiful treasures of Guyana and Suriname, there are
also huge carbon sinks and we understand that preserving them … benefits first of all in Guyana
and Suriname but also in human kind and that is why I am happy about those programmes,”
Cantó said. He continued, “There is more financing and there is more funding available and we
will do our best to ensure that Guyana benefits.”
The EU Ambassador pointed out that he was happy to hear that Guyana remains committed to
achieving its zero carbon emissions by 2050. He noted that Guyana’s commitment to its global
commitment is fundamental to the entire world. “I am encouraged by this commitment because it
is indeed urgent and necessary to move towards more sustainable forms of energy. Our future,
but also our business future is there. I am also encouraged equally by the commitment to ensure
that oil wealth returns to all the citizens of Guyana. There is no sustainability without this pre-
condition. I heard that and I am very encouraged by that,” Ambassador Cantó noted.
The EU Ambassador stressed that he also recognises that Guyana is in a dilemma wanting to
make the most of its resources to uplift its people while at the same time trying to protect the
environment. “We are, all in this room agree that it is legitimate, both are essential but the devil
is in the detail. Let me quote an old song, ‘it is not what you do it is the way that you do it.’ The
transition must be fast. The transition is not something that will happen in 2050 or 2030, it has to
happen now, gradually of course, but it has to happen,” the Ambassador said.
He noted that Vice President Dr. Jagdeo in his address on Tuesday said Guyana intends to carry
out oil production in a net zero carbon world. “Let me be very clear about our position. We
support net zero by 2050. In fact, at this point in time, because our forest is such a huge carbon
sink, we are already at net zero. In fact, we are positive,” the Ambassdor stressed.
He added, “even with us producing one million barrels of oil per day with all the emissions using
current technology, we will still be net zero because of the nature of our forest and the carbon
sink, which our President spoke about; 19 gigaton storage on an annual emission.”  The four-day
energy conference features hundreds of investors from across the world and is being held under
the theme ‘Charting a sustainable energy future.’ The conference ends on Friday, February, 18.